Hi!

Hello! What do you mean by “without fixed price”? At first since the product is released, we will consider mining equipment for BTC as collateral. Later we will expand the range of miners that can be used as collateral. If calculations will show the profitability of other miners, we will provide the installment service for them.

Best,
CT.

Hello!

One of the main challenges is uncertain legislation. In many countries there is still no established legislation and many details need to be taken into account. But we have already worked with credit products before and know how to work in over-regulated market.

Best,
CT.

Hello! Good question)

The process of obtaining a loan takes less time compared to the procedure for obtaining ordinary bank loan products as there is no scoring procedure. But we comply with all the conditions of KYC and AML, that’s why every client applying for a loan passes preliminary identification.

Best,
CT.

HI!

Hello there. Cereal offers affordable loan options in the client’s region. Loans will be available in the currency of the client’s country, as well as in the international reserve currencies, depending on the conditions of national regulation of foreign currencies.

Best,
CT.

Hi, After the client transfers his assets to Cereal as deposit, we transfer the fiat money to the client’s account. Information about monthly payments and the current loan status is shown in the client’s personal account. The client can make monthly payments using the service of the Cereal partner - a financial institution operating in the region of loan issue. After full loan repayment, the deposit is returned to the client’s wallet.

Best,
CT.

Hi! Thanks for the interest to the project.

Yes, you are right! By choosing a credit card as a product, the client receives instructions for transferring the deposit to Cereal, and then within a few days can receive the card by courier delivery or at the offices of Cereal partners. The client has the right to freely dispose of credit funds and if needed to withdraw fiat money from the card at ATMs or branches of financial organizations that are Cereal partners. The line of credit by means of credit cards is revolving, which means that the client can operate the loan with minimum monthly payments and reuse the repaid credit limit.

Best,
Cereal Team.

Hi! thank you for the question.

In some cases, we can repair the equipment in Giga Watt service center and it will continue to mine. If it can not be repaired we may lose some money on particular loan, that is the risk that we include in our business model when we calculate the interest rate.

Best,
 CT.

Thanks for the question.

It depends on size of CRLT token volume you own. The more you obtain,  the more benefits you can get. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.

Best,
CT.

Thank you for the question.

Yes, we plan to make new partnerships in different regions.

Best,
Cereal Team.

Thank yo for the question.

We plan to start from Asia, then we will expand to Europe and the USA and other countries. We could consider the other countries if they prepare the cryptocurrency friendly regulation.We are basic all startng with the product for purchasing miners in June. After that we are going to more the focus on the credit solutions secured by cryptocurrencies.

Best,
Cereal Team.

Thank you for the question.

It depends on size of CRLT token volume you own. The more you obtain,  the more benefits you can get. Cereal provides loans in fiat that allows their clients to get cash for daily expenses, using their crypto as collateral. Once the loan is repaid, Cereal return the collateral.

Best,
Cereal Team.

Thank you for the question.

With the CRL token you can enjoy following benefits on the platform:
1) Earlier access to new products in the Cereal ecosystem. For example, the participants of token sale will have priority access to the loans backed by mining equipment.
2) Better conditions for various credit products within the ecosystem. Advantages may include lower interest rates for loans and credit cards, higher loan-to-value proportion, longer payback periods, higher amounts of maximum possible loans, etc.
3) Better conditions for purchasing goods and services from partner companies. Members of the Cereal ecosystem can receive various bonuses in CRL tokens using credit products, such as cashback when shopping with Cereal credit cards.

Best,
Cereal Team.

Thank you for the question.

ETH, BTC for loans in fiat and mining equipment for clients of our partner GigaWatt. Cereal provides loans in fiat that allows our clients to get cash for daily expenses, using their crypto as collateral. At the first stage, there will be only the most reliable cryptoassets, like ETH and BTC, which pose lower risk for creditors.

Best,
Cereal Team.

thanks for the question.

In case if a customer can’t repay the loan in fiat he can make a request to Cereal to sell part of the deposit at the market price in the equivalent of the debt. If the collateral value drops by Cereal level, we send customer a warning that the deposit funds are insufficient. In this case customer can:
- Increase deposit to the level required;
- Pay off a part of the debt to comply with the deposit amount or repay the debt in full;
- If the first two actions are not possible, customer can sell part of the assets in the equivalent of the remaining debt.

Best,
Cereal Team.

Thank you for the support.

Best,
Cereal Team.

This information will be announced later, after the platform is launched. It is planned to use a wide range of crypto assets. Stay tuned.

Best,
Cereal Team.

At first since the Cereal platform is released, we will consider BTC, ETH and mining equipment as collateral. Later we will expand the list of cryptocurrencies that can be used as collateral.